Is Every USD Millionaire Rich Enough to Buy Bitcoin ?
The question may look obvious at some point. Bitcoin is in ATH of 11k USD and millionaires have millions.
So depending on this and other predictions i have found there is 17million up to 50 million millionaires in the world.
Currently there as 16,707,338 BTCs+ in circulation. Of course many are lost or never moved but lets stick to this number.
So math here shows without a doubt - not every millionaire has enough money to have 1 full BTC!
The implications of this may have loads of outcomes. I wont speculate on that - you can reply in comment.
Maybe having 1 BTC at some point in future will mean more for prestige than having a Lambo and Yacht ?
That is why i encourage everyone to do their best and get at least 1 BTC if possible.
McAfee Doubles
First he said it will be 500k USD by 2020, now he says 1 million or he will do something nasty.
He is a nasty guy though, watch documentary about him on Netflix.
Bitcoin Markets
Notice nice opportunity on Binance (doesnt need ID verification) vs Bittrex. Theter you can get from BitFinex cheap too (as they are the source).
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I did quite a few studies published on Steemit using the Credit Suisse Wealth Report and comparing wealth bands with the number of bitcoin addresses of a certain size. The simple conclusion is that if the top 25% by wealth tried to invest 1% 0f their wealth in bitcoin, it would absorb $4 trillion. In other words, it can’t be done at today’s prices.
In another study I illustrate how doubling the number of bitcoin investors, does not double the price but has a leveraged effect of maybe 20 times the old price.
interesting, thanks for the information.
Sure they have!
I still need to watch that McAfee documentary, have heard it's worth a watch though. As for there number of bitcoins to number of millionaires thing, I'm not sure how useful that information is but it's certainly interesting and a good indicator as to the scarcity of bitcoin
I'm still curious about that whole eat his dick bet, how that is going to work out for him...
Would you like some wine with your meal sir?
It's going to be interesting but there is so much going on in crypto right now that has the possibility to seriously derail things in the short term..
@cryptographic
https://steemit.com/trading/@cryptographic/a-disaster-in-the-making#@cryptographic/re-pawsdog-re-cryptographic-a-disaster-in-the-making-20171203t183356320z
@pawsdog
https://steemit.com/bitcoin/@pawsdog/12-3-2017-the-market-view-and-trading-outlook
Technically, wouldn't everyone that has a million dollars have enough to buy a $10,000 Bitcoin?
I don't see the big deal about having 1.0 BTC, other than a nice round number. I think its more about the price of when you got in that more important.
I never saw a $10,000 BTC happening so quickly with so little adoption, but here it is. $500,000 by 2020 seems a little steep to me, I think McAfee will have to end up eating his own dick. Fuck it, maybe thats what Bitcoin needs to get to $500,000...
hahaha...so let us all contribute to make that happen...I am sure there will be a live feed available on the net of that event....LMFAO
Hello guys check out my latest post in which i discussed how to double your bitcoins in just 20 days with proof. Its absolutely valid, have a look and decide for yourselves.
I'd also like to believe BTC will never stop rising, but the fact that it is mooning now, doesn't mean it'll always be that way.
That's a pretty radical thought!
https://en.wikipedia.org/wiki/Millionaire
https://en.wikipedia.org/wiki/Billionaire#Statistics
It is very possible but a ton of money has to be dumped into it. For every 1 trillion dollar market cap for bitcoin we would see about 40k-60k per bitcoin with those numbers we would need to have a market cap of 20 trillion which would be about 1/4th of all the money invested into the stock market right now.
not unrealistic in my opinion....personally I have transferred more than 1/4 th of my stock investments into BITCOIN....and we are just at the beginning of the mass adoption phase right now
I remember reading a post about his predictions for bitcoin in 2020 of being $500,000. At the time it was worth about $200 and I didn't believe him. I didn't buy until early in 2017. Now he's saying it may be worth $1,000,000 by the end of 2020.
I think this time I'm going to believe him. I'm going to get all the bitcoin I can accumulate by 2020 and see what happens.